5 Great Ideas To Make Your Money Go Further

11/02/2019

Ah, money, money, money.

As Abba used to sing, all the things I could do if I had a little money. It’s a rich man’s world.

The truth is that you can make your capital go further without embarking on the impossible quest for a rich man – who, if you are to go by Abba’s standards, is hard to find. However, it’s a common mistake to assume that you need more to do more. In reality, while you might want to improve your overall wealth, it’s not mandatory to utilise your savings productively.

For many, the idea of making your money go further implies thrifty and budget-savvy approaches in everyday life. There’s no denying that ensuring that your family has got everything they need while sticking to your budget is one way of making the most of your capital. However, if saving is not what you have in mind, you might be more interested in creating value from your investment. That’s precisely where things can become interesting. Value, indeed, comes in a variety of shapes, whether you’re considering your financial stability or someone else’s as a priority. Investing any sum in creating a positive return can provide you with the chance of making a difference.

Despite the recent additions to the landlord’s responsibilities and rights that can affect their earnings, it doesn’t prevent landlords from profiting from their properties, as long as they understand how to make the most of their investments. The property market remains a favourite choice for new investors as it is entirely built on physical and tangibles assets – which makes your investment easy to manage. The overall real estate market value is going up, meaning that you can benefit from a buy to let strategy, especially with holiday rentals abroad. With plenty of options available in foreign countries, you need to make sure you find sufficient legal support to go through the purchasing process without friction. Holiday rentals are not only the guarantee of regular high income, but they can also act as a complement to your pension in later years, making them the perfect investment to ensure your comfort in old age. Additionally, they provide you with a base to visit foreign countries!

Invest in someone else’s future

When you’ve decided to do something beneficial for others, charities are the first thing that comes to mind. But before you give without considering the impact of your gesture, find simple ways in which you can make your money go the extra mile. For instance, if you’re a UK taxpayer, the charities can add the equivalent of the basic tax rate on top of your donations, which is 25%. For instance, every £1 you give to charity will be worth £1.25 in the end. High taxpayers, can even claim back the difference between their tax rate and the basic rate that boosts the value of their donation. In other words, there is more value in donated pounds than in the money you keep for yourself.

However, it’s fair to say that these tax trick only works on UK-based charities. But it doesn’t mean that you can’t make your money go further by giving to international organisations that are trying to support a good cause such as education for girls in impoverished areas. As education is the safest antidote for poverty and war, you can be sure that your donation could make a significant difference to a country.

Invest in the future of the planet

Sometimes, helping just one person today isn’t enough. After all, the news is alarming. Studies have shown that insects could die out within 100 years, which would lead to the global collapse of nature, and with it, life on the planet as we know it. There is no denying that we can’t ignore this looming ecological Armageddon. You might feel powerless at a personal level, but there is a lot you can do.

For a start, you can actively transform your habits to make your garden a welcoming environment for wildlife – by choosing insect-friendly plants and encouraging insects to stay with safe nesting places. But one garden isn’t enough to save the bees from extinction. You can consider investing in green technology to increase the developments of renewable and sustainable solutions. Indeed, you can also consider lucrative green opportunities for your investment portfolio, if you feel confident with exchange trades and stock practices. One word of advice before you start; be careful of greenwashing companies that claim to be green but are not!

Could you help your community?

It’s fair to say that you may not be in a position to dedicate your savings to an investment or charity activity. When you’re concerned about keeping your budget in the green, the last thing you want to do is thinking about investing in a long-term approach. Instead, you need to make your daily expenses go further so that you don’t have to worry about additional costs. Can you make a difference at your individual level? The answer is yes; by going local, you can not only support the local economy, but you can also reduce your impact on the planet. Indeed, when you choose to buy local fruit and vegetables from your grocery shop – or even your local farm shop –, you focus on seasonal produce, which reduces the needs for cross-countries transportations and chemical farming products.

The choices you make day after day can have a butterfly effect on others. You know, for instance, that your affordable clothes and electrical products have been made abroad – is your purchase going into the pocket of the entrepreneur or is it going to serve the manufacturing community? Doing your research in advance can help you make informed choices. Similarly, you can also rely on companies that support their communities for your everyday items, such as toilet paper rolls or even winter jackets. Ultimately, spending wisely and with companies that invest in the future is the best thing you can do to make your everyday costs count.

Finding value in your money is the basic rule of every investment strategy, whether you choose to invest in yourself or others. There is more to your pounds than what meets the eyes, and every coin you spend could go towards a greater goal!